Surprise in the EU average salaries: Hungary overtakes one country

Hungary’s average salary has overtaken Greece’s, placing it third from the bottom among EU countries, according to the latest Eurostat data. For four consecutive years, the country held the penultimate position, ahead only of Bulgaria, but the 2024 figures reveal a shift.

Still not very complimentary situation

In 2023, the average annual gross wage for full-time employees in Hungary was EUR 18,461 when converted to euros. This is higher than Bulgaria’s EUR 15,387 but lower than Greece’s EUR 17,954, putting Hungary just above Bulgaria and Greece at the bottom of EU salary rankings. Nearby countries such as Slovakia, Romania and Poland have average wages exceeding EUR 20,000 per year, writes hvg.

Luxembourg tops the list with an average annual wage close to EUR 83,000, followed by Denmark at EUR 71,600 and Ireland at EUR 61,100. The overall EU average stands at around EUR 39,800 — more than double the Hungarian figure.

Hungary’s relative position has deteriorated over the past two decades. Between 2003 and 2005, the country ranked ninth lowest among EU member states. By 2010, this had worsened to the fifth lowest, and since 2014 Hungary has consistently been third from bottom until last year, when Greece dropped behind.